JSW Steel to invest Rs 100 billion to increase use of renewable energy

JSW Steel has allotted Rs 100 billion to boost the use of renewable energy to replace thermal power and other green efforts in order to minimise their carbon footprint. Coal is used by some steel manufacturers to generate thermal power for captive usage. Globally, the iron and steel sector contributes for around 8 per cent of total CO2 emissions. It accounts for 12 per cent of total CO2 emissions in India. As a result, in view of the agreements made at the COP26 climate change conference, the Indian steel sector needs significantly cut its emissions. According to reports, JSW Steel has already contracted for 1 gigatonne (GW) of renewable energy, of which 225 MW became operational in April 2022, and the remaining would come on stream in stages.